North Flow: what changed
North Flow
Largest movements
- Cash +€23,071
up €23,071 (+199%), from €11,615 to €34,686
mainly Receivables within one year (+€21,615) and Depreciation (+€20,463)
- Receivables within one year -€21,615
down €21,615 (-86.1%), from €25,093 to €3,477
of which Trade receivables: -€21,230
- Tangible fixed assets -€20,463
down €20,463 (-7.9%), from €259,126 to €238,663
of which Furniture and vehicles: -€10,445
- Current investments -€12,337
down €12,337 (-31.7%), from €38,945 to €26,608
- Other debts -€36,453
down €36,453 (-32.7%), from €111,601 to €75,147
- Tax, wage and social debts +€11,132
up €11,132 (+239%), from €4,650 to €15,781
- Current portion of long-term debt -€7,464
down €7,464 (-66.5%), from €11,227 to €3,762
- Accrued charges and deferred income -€7,013
down €7,013 (-62.4%), from €11,237 to €4,224
- Trade debts +€5,659
up €5,659 (+117%), from €4,835 to €10,494
- Financial charges -€73,544
down €73,544 (-85.0%), from €86,554 to €13,010
- Taxes +€19,251
up €19,251 (+8,838%), from €218 to €19,469
- Gross operating margin +€19,057
up €19,057 (+49.0%), from €38,888 to €57,945
- Depreciation -€4,458
down €4,458 (-17.9%), from €24,921 to €20,463
- Other operating charges -€1,972
down €1,972 (-71.4%), from €2,763 to €790
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €335,529 | €303,640 | -€31,890 | -9.5% |
| Fixed assets | 21/28 | €259,126 | €238,663 | -€20,463 | -7.9% |
| Tangible fixed assets | 22/27 | €259,126 | €238,663 | -€20,463 | -7.9% |
| Land and buildings | 22 | €207,464 | €200,485 | -€6,979 | -3.4% |
| Plant, machinery and equipment | 23 | €6,966 | €4,529 | -€2,437 | -35.0% |
| Furniture and vehicles | 24 | €24,130 | €13,685 | -€10,445 | -43.3% |
| Other tangible fixed assets | 26 | €20,566 | €19,965 | -€601 | -2.9% |
| Current assets | 29/58 | €76,404 | €64,976 | -€11,427 | -15.0% |
| Amounts receivable within one year | 40/41 | €25,093 | €3,477 | -€21,615 | -86.1% |
| Trade receivables | 40 | €24,689 | €3,459 | -€21,230 | -86.0% |
| Other amounts receivable | 41 | €404 | €18 | -€386 | -95.5% |
| Current investments | 50/53 | €38,945 | €26,608 | -€12,337 | -31.7% |
| Cash at bank and in hand | 54/58 | €11,615 | €34,686 | +€23,071 | +199% |
| Deferred charges and accrued income | 490/1 | €751 | €205 | -€546 | -72.7% |
| Total equity and liabilities | 10/49 | €335,529 | €303,640 | -€31,890 | -9.5% |
| Equity | 10/15 | €242 | €4,455 | +€4,213 | +1,742% |
| Contributions | 10/11 | €3,614 | €3,614 | = | 0.0% |
| Reserves | 13 | €74,343 | €74,343 | = | 0.0% |
| Non-distributable reserves | 130/1 | €542 | €542 | = | 0.0% |
| Reserves not available under the articles | 1311 | €542 | €542 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,465 | €5,465 | = | 0.0% |
| Distributable reserves | 133 | €68,337 | €68,337 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€77,715 | -€73,502 | +€4,213 | +5.4% |
| Amounts payable | 17/49 | €335,288 | €299,184 | -€36,103 | -10.8% |
| Amounts payable after more than one year | 17 | €191,738 | €187,976 | -€3,762 | -2.0% |
| Financial debts | 170/4 | €191,738 | €187,976 | -€3,762 | -2.0% |
| Amounts payable within one year | 42/48 | €132,312 | €106,985 | -€25,327 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €11,227 | €3,762 | -€7,464 | -66.5% |
| Financial debts | 43 | - | €1,800 | +€1,800 | |
| Credit institutions | 430/8 | - | €1,800 | +€1,800 | |
| Trade debts | 44 | €4,835 | €10,494 | +€5,659 | +117% |
| Suppliers | 440/4 | €4,835 | €10,494 | +€5,659 | +117% |
| Taxes, remuneration and social security | 45 | €4,650 | €15,781 | +€11,132 | +239% |
| Taxes | 450/3 | €4,650 | €15,781 | +€11,132 | +239% |
| Other amounts payable | 47/48 | €111,601 | €75,147 | -€36,453 | -32.7% |
| Accrued charges and deferred income | 492/3 | €11,237 | €4,224 | -€7,013 | -62.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,921 | €20,463 | -€4,458 | -17.9% |
| Other operating charges | 640/8 | €2,763 | €790 | -€1,972 | -71.4% |
| Gross operating margin | 9900 | €38,888 | €57,945 | +€19,057 | +49.0% |
| Operating profit (loss) | 9901 | €11,204 | €36,692 | +€25,488 | +227% |
| Financial income | 75/76B | €635 | - | -€635 | |
| Recurring financial income | 75 | €635 | - | -€635 | |
| Financial charges | 65/66B | €86,554 | €13,010 | -€73,544 | -85.0% |
| Recurring financial charges | 65 | €86,554 | €13,010 | -€73,544 | -85.0% |
| Profit (loss) for the period before taxes | 9903 | -€74,715 | €23,682 | +€98,397 | |
| Income taxes | 67/77 | €218 | €19,469 | +€19,251 | +8,838% |
| Profit (loss) for the period | 9904 | -€74,933 | €4,213 | +€79,146 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,933 | €4,213 | +€79,146 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.